AH AL-HENDE: what changed
AH AL-HENDE
Largest movements
- Receivables within one year +€99,633
up €99,633 (+137%), from €72,665 to €172,298
of which Trade receivables: +€79,207
- Tangible fixed assets +€28,300
up €28,300 (+158%), from €17,883 to €46,183
of which Leasing and similar rights: +€24,522
- Cash +€9,579
up €9,579 (+1,290%), from €743 to €10,322
mainly Net result for the year (+€74,888) and Other debts (+€30,000)
- Profit (loss) carried forward +€44,888
up €44,888 (+104%), from €43,018 to €87,906
- Other debts +€30,000
new in 2025: €30,000
- Debts after one year +€22,705
new in 2025: €22,705
- Tax, wage and social debts +€20,488
up €20,488 (+412%), from €4,972 to €25,459
of which Remuneration and social security: +€12,857
- Trade debts +€14,370
up €14,370 (+34.9%), from €41,190 to €55,560
- Gross operating margin +€69,277
up €69,277 (+131%), from €52,933 to €122,210
- Purchases and services +€67,998
up €67,998 (+49.9%), from €136,184 to €204,182
- Staff costs +€23,175
up €23,175 (+307%), from €7,560 to €30,735
- Taxes +€8,614
new in 2025: €8,614
- Depreciation +€7,126
up €7,126 (+547%), from €1,302 to €8,428
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,291 | €228,803 | +€137,512 | +151% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €17,883 | €46,183 | +€28,300 | +158% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €17,883 | €46,183 | +€28,300 | +158% |
| Furniture and vehicles | 24 | €17,883 | €21,661 | +€3,778 | +21.1% |
| Leasing and similar rights | 25 | - | €24,522 | +€24,522 | |
| Current assets | 29/58 | €73,408 | €182,620 | +€109,212 | +149% |
| Amounts receivable within one year | 40/41 | €72,665 | €172,298 | +€99,633 | +137% |
| Trade receivables | 40 | €41,034 | €120,240 | +€79,207 | +193% |
| Other amounts receivable | 41 | €31,631 | €52,058 | +€20,427 | +64.6% |
| Cash at bank and in hand | 54/58 | €743 | €10,322 | +€9,579 | +1,290% |
| Total equity and liabilities | 10/49 | €91,291 | €228,803 | +€137,512 | +151% |
| Equity | 10/15 | €43,018 | €90,906 | +€47,888 | +111% |
| Contributions | 10/11 | - | €3,000 | +€3,000 | |
| Profit (loss) carried forward | 14 | €43,018 | €87,906 | +€44,888 | +104% |
| Amounts payable | 17/49 | €48,274 | €137,897 | +€89,624 | +186% |
| Amounts payable after more than one year | 17 | - | €22,705 | +€22,705 | |
| Financial debts | 170/4 | - | €22,705 | +€22,705 | |
| Amounts payable within one year | 42/48 | €46,367 | €115,193 | +€68,825 | +148% |
| Current portion of amounts payable after more than one year | 42 | - | €4,173 | +€4,173 | |
| Trade debts | 44 | €41,190 | €55,560 | +€14,370 | +34.9% |
| Suppliers | 440/4 | €41,190 | €55,560 | +€14,370 | +34.9% |
| Advances received on contracts in progress | 46 | €206 | - | -€206 | |
| Taxes, remuneration and social security | 45 | €4,972 | €25,459 | +€20,488 | +412% |
| Taxes | 450/3 | - | €7,631 | +€7,631 | |
| Remuneration and social security | 454/9 | €4,972 | €17,828 | +€12,857 | +259% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €1,906 | - | -€1,906 | |
| Goods, raw materials, services and sundry goods | 60/61 | €136,184 | €204,182 | +€67,998 | +49.9% |
| Remuneration, social security and pensions | 62 | €7,560 | €30,735 | +€23,175 | +307% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,302 | €8,428 | +€7,126 | +547% |
| Other operating charges | 640/8 | €1,021 | €851 | -€169 | -16.6% |
| Gross operating margin | 9900 | €52,933 | €122,210 | +€69,277 | +131% |
| Operating profit (loss) | 9901 | €43,050 | €82,196 | +€39,146 | +90.9% |
| Financial income | 75/76B | - | €2,747 | +€2,747 | |
| Recurring financial income | 75 | - | €2,747 | +€2,747 | |
| Non-recurring financial income | 76B | - | €2,747 | +€2,747 | |
| Financial charges | 65/66B | €33 | €1,440 | +€1,408 | +4,332% |
| Recurring financial charges | 65 | €33 | €1,440 | +€1,408 | +4,332% |
| Profit (loss) for the period before taxes | 9903 | €43,018 | €83,503 | +€40,485 | +94.1% |
| Income taxes | 67/77 | - | €8,614 | +€8,614 | |
| Profit (loss) for the period | 9904 | €43,018 | €74,888 | +€31,871 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,018 | €74,888 | +€31,871 | +74.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.